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China's biggest foreign takeover is under fire in the U.S.
cnn.com
China's biggest ever foreign takeover is taking some heat in the U.S.
State-owned ChemChina last month announced a $43 billion deal to buy Switzerland's Syngenta, a giant seed and pesticide company. But the planned acquisition has set off alarm bells in the U.S., where Syngenta supplies farmers and runs research and production facilities.
Sen. Chuck Grassley of Iowa, a key farming state, said Wednesday he was worried about how the merger "could impact U.S. food security and distribution, because the food and agriculture sectors are part of the nation's critical infrastructure."
The Republican told a local radio station that the deal could create a conflict of interest, with the Chinese government both regulating biotechnology products and owning a company that makes them.
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